A Perfect Review of the top Ethereum (ETH) Mining Profitability Calculators along with the simple and easy steps to mine Ethereum:
Ethereum mining calculators are, in most cases, the same ones used as Bitcoin mining calculators because they support estimating mining profitability and revenues for more than one cryptocurrency.
Ethereum mining calculators allow or help users determine which pieces of mining equipment they can best employ or buy for optimal profitability.
They also help miners determine which crypto to best mine with given hardware and generate maximum profits given. These Ethereum hash rate calculators help to predict the exact mining incomes and revenues over the hour, day, week, month, and year. Most are 95% accurate in predicting mining incomes.
This tutorial provides a guide on the top Ethereum profitability calculators one can use in their analysis and how to use Ethereum mining calculators in each of the cases.
Table of Contents:
Ethereum Mining Calculators
Market Trends:
- It is critical to understand and estimate the profitability of a mining device before buying. See below for expected profitability for top ASICs and GPUs. Mining calculators help to buy efficient and useful devices.
- There are hundreds if not tens of Ethereum mining calculators that help users determine which Nvidia, AMD, Intel, or other GPU models and algorithms supported can mine Ethereum.
- Most mining calculators are web-based. More advanced ETH mining calculators provide hourly, daily, weekly, monthly, and yearly revenue, cost, and profitability projections, but few can be used for long-term (up to 10 years) projections for profitability and revenue.
Top ten ASICs and their profitability:
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Top ten GPUs and their profitability:
Expert Advice:
- The best cryptocurrency mining calculators help a user to project hourly, daily, weekly, monthly, and yearly mining earnings, costs, and profitability per device and algorithm that can mine that particular cryptocurrency.
- Mining calculators can be chosen based on the features – with most, you would need to do a background search on which operating system, computer requirements, mining software, and mining pool to which to connect the device. All require using custom electricity costs per your locality and knowing the device’s power consumption.
Frequently Asked Questions
Q #1) How do you calculate profit from Ethereum?
Answer: For general trading, the profit of Ethereum is constituted by buying and selling prices. However, the actual Ethereum mining profit is calculated by subtracting power consumption costs, hardware depreciation costs, rental costs, and labor costs from the total mining income. It is also possible to estimate the profit and revenues using ETH mining calculators.
Suggested Reading =>> How to Mine Ethereum with methods
Q #2) How much hash rate is needed to mine 1 Ethereum?
Answer: A mining rig or pool with 2,000 mH/s or 2 GH/s takes 20 days to mine 1 Ethereum. A mining rig of 100 MH/s would take 403 days to mine 1 Ethereum. In most cases, mining pools, which comprise a vast amount of hash rate, take less than one minute to mine 1 Ethereum.
Q #3) How much Ethereum can you mine in a day?
Answer: How much Ethereum to mine in a day depends on how much hash rate a pool or mining rig has.
For instance, at 263.7 TH/s, the Ethermine pool generates an average of 76.83 blocks/h. This means it generates 1.56 ETH per minute at that hash rate. You can also use hash rate calculators to answer the question of how much Ethereum can I mine in a day.
Q #4) What is a good hash rate for Ethereum mining?
Answer: It takes about 12 seconds to confirm an Ethereum block. There is no ideal mining hash rate for Ethereum, but you can determine the amount of hashrate to purchase based on how long you want to mine Ethereum. A 2 GH/s hashrate takes 20 days to mine 1 Ethereum.
Q #5) How much ETH can a 3080 mine?
Answer: A Nvidia RTX 3080 can reach 97.88 mH/s hashrate and power consumption of 224 watts when mining Ethereum. This would earn around 2.33 USD/day. That means it generates around $69.99 in a month. This question is related to another one – how much Ethereum can I mine in a day and mining calculators can estimate this?
List of Top Ethereum Profit Calculators
Some remarkably impressive Ethereum mining Profitability calculators include:
- WhatToMine
- Minerstat
- 2CryptoCalc
- CoinWarz
- NiceHash
- My Crypto Buddy
- CryptoCompare
- 99Bitcoins
Comparison Table of Best ETH Mining Calculators
| Ethereum wallet | Devices supported | What to calculate? |
|---|---|---|
| WhatToMine | GPU and ASICs | Hourly, daily, weekly, monthly, and yearly profit, revenue, and costs per algorithm supported on the device and per coin supported by a device. |
| Minerstat | GPUs and ASICs | Daily income, costs, and profits. |
| 2CryptoCalc | GPUs | Daily mining profit per algorithm supported by each GPU |
| CoinWarz | GPUs and ASICs. | Hourly, daily, weekly, monthly, and yearly revenue and profitability. |
| NiceHash | GPUs and ASICs | Daily, weekly, and monthly earnings, cost, and profitability based on historical data. Compare daily profit estimates for devices or determine for a single device. |
Detailed review:
#1) WhatToMine
WhatToMine provides the most detailed overview of the profits, revenues, and costs to expect when mining with different device models and algorithms. The projections show profitability to expect when mining different coins in comparison with Ethereum.
It helps those researching the mining devices to buy to optimize mining certain cryptocurrencies or those who want to work backward to determine which crypto can best be mined with certain hardware. It is suitable for both, those who want to mine one coin, and those who want to mine more than one coin at the same time.
WhatToMine can project incomes from mining based on known specific GPU or ASIC miners, but there is no support for CPUs. It helps you know what revenues, costs, and profits to expect when mining with specific algorithms supported by each of these devices. It even provides information on the top three cryptocurrencies you can mine with each and what profits to expect.
How to use WhatToMine Ethereum mining calculator:
Step #1: Visit the website. The default page provides revenue and other projections for algorithms supported by three Vega 480 GPU mining devices. You can change this by tapping/clicking the algorithm of your choice and editing the quantity. You can add one or more algorithms.
Tap/click the ASICs tab to see mining projections expected when mining with different ASIC algorithms.
Step #2: The Coins tab allows you to project incomes per coin you are or intend to mine. You can see the GPU with which to best mine that selected coin on the left side of the page. Choose Ethereum and see which devices to mine it with and the projected revenue and profitability.
The Miners tab allows you to see revenue/profit projections from specific miners by name. The same applies to the GPUs tab. You can check the top coins listed for mining with each and sieve the devices and algorithms that can mine Ethereum. It also indicates the expected income for Ethereum per device that supports Ethereum mining.
Step #3: Click/tap the click on ETH+ tab from the menu to estimate profitability for multi-algo mining (merged coin mining) options. This estimates profitability when mining other coins in addition to Ethereum on the same device.
Features:
- Daily, monthly, and yearly charts for GPUs and ASICs. Historical mining output data are also provided.
- Almost all crypto mining models are supported – AMD, Nvidia, Intel, etc.
- Tabulated comparison per algorithm on each device, GPU and ASICs.
- Hourly, daily, 3-day, and 7-day mining profitability and revenue projections.
Pros:
- Compare mining revenues per crypto among different mining algorithms per GPU and ASIC.
- Hourly, daily, weekly, and monthly historical rewards charts.
- Determine which crypto exchange to use as the basis for calculating mining profitability. Different ones are supported.
- Manually enter custom GPU and ASIC hashrates, power cost, e.t.c when calculating mining incomes.
- Can provide information for those building rigs with different Ethereum mining cards.
- No need to do additional searches on which model can manage what hash rates or which algorithm it supports.
Cons:
- No support for CPU mining.
- Not so easy to use for beginner mining investors.
- You may need to search for information on which mining pool to connect the device to and which OS and mining software they utilize to mine.
Verdict: WhatToMine is the most comprehensive crypto mining calculator, allowing you to detail expected mining incomes per device model algorithm per crypto. The problem is that it does not support CPU profit calculation.
Price: Free
Website: WhatToMine
#2) Minerstat
Minerstat is a simple Ethereum profit calculator that lets you input the hashrates, pool fees, electricity costs, and power consumption to determine daily, weekly and monthly profitability.
Of course, Minerstat can check the top GPUs and ASICs for mining Ethereum, their power consumption, their hashrate each; and the expected daily income, costs, and profits. But that’s on different tabs.
It can check which Ethereum pools can be used (alongside the reward or mode of payment), the fees, and the minimum payouts. Minerstat is also a source of information regarding the Ethereum mining software to use, historical network hashrates, and network difficulty.
How to use Minerstat:
Step #1: Visit the website and choose Calculator from the menu. Click/tap Add hardware, select hardware, model, and description of the hardware. Enter the quantity.
Step #2: Click/tap Edit to add algorithms supported by the model chosen as per above. Enter hashrates per algorithm and click/tap Save changes.
Step #3: Click filter & settings. This lets you filter results based on whether you want coins, multi-algorithm pools, marketplaces, PPS pools, and PPLNS pools to appear in the list. It also allows you to enter base currency, electricity costs, and the power offset in wattage. Click save settings.
It shows a list of algorithms alongside estimated daily costs, revenue, and profits in ETH, BTC, and USD. You can also visit the below link, then enter hashrates, power consumption, pool fees, and electricity costs, and click calculate.
Features:
- Determine which pools to mine cryptos on to optimize mining incomes.
- See which cryptos to mine with the hardware and expected profits, revenues, and costs.
- Determine which hashrates markets to buy hash rates at and get maximum mining incomes.
- Support for Ethereum and other coins mining hardware.
- Check profitability for more than one device at a go.
Pros:
- Comprehensive analyses for mining pools, hashrate marketplaces, and coins, and their expected profitability, revenue, and costs when using a particular mining hardware device.
- Simple and quick to use.
Cons:
- No head-to-head comparisons amongst mining equipment.
Verdict: Minerstat provides a resourceful mining calculator that helps you estimate mining income across multiple pieces of mining equipment with hourly, daily, and monthly forecasts.
It also provides lists of coins, pools, and hashrate marketplaces for different mining hardware, save that it does not provide side-to-side comparisons for different miners.
Price: Free
Website: Minerstat
#3) 2CryptoCalc
2CryptoCalc ETH mining calculator is equipped with the capability to project daily mining profit in ETH and USD per specified mining hardware device. It also provides details on different mining pools, their fees, reward system, hashrate, country locations, and minimum payout for each.
The calculator will also help determine Ethereum mining software to use in addition to their settings. 2CryptoCalc also helps you determine profitability per each GPU model and the coins you can use to mine with them.
How to use 2CryptoCalc:
Step #1: Visit the website and choose either AMD or Nvidia device model from the homepage. Input the quantity and/or click on the model number. It displays algorithms mineable on the model and their hashrates, and down there, all the cryptos mineable with the device.
Step #2: To narrow down the Ethereum profit calculator, click/tap Ethereum from the list of crypto supported for mining with a target device model.
Features:
- Ethereum network information is provided like total hashrate and difficulty. This includes a day/weekly/monthly/yearly/all-time graphical chart of the total network hashrate and difficulty chart.
- Shows mining pool information, such as several miners connected.
- Determine the profitability of mining hardware per mining algorithm supported on the device. Determine which coins to mine with a specified GPU and algorithm supported and the expected returns when mining each coin mineable with the device model.
Pros:
- Detailed to determine different algorithms and coins to mine on each Nvidia and AMD model. It also supports a host of different AMD and Nvidia device models.
- Tells of the mining pool to use in mining Ethereum, their fees, and other details like the rewards system.
- Other coins supported.
Cons:
- No side-to-side comparisons for mining equipment.
Verdict: This Ethereum hashrate calculator can be employed to determine which devices to use to mine Ethereum, as well as the profitability to expect per device and its supported algorithms. It provides tabulated comparisons on profitability to expect if using different algorithms and when mining different cryptos on the same device.
Price: Free
Website: 2CryptoCalc
#4) CoinWarz
CoinWarz lets you determine the profitability of an Ethereum mining machine simply by clicking/tapping a button against a mining machine listed on the website. Hence, it makes the process quick and simple. It is preloaded with the latest Ethereum network mining difficulty, hashrate for the machine, and power consumption.
It estimates how long it takes to mine 1 Ethereum or solves 1 block mining on solo mode with a specified machine/hashrate. It also provides a return on investment for the specified machine/hashrates.
How to use CoinWarz mining calculator:
Step #1: Visit the website, choose Mining calculators from the menu, and select ETH mining calculator from the list of calculators available.
Step #2: It will show an interface where you can input mining hashrate for a machine, power consumption, electricity costs, and pool fees. Then click Calculate mining profit. It also shows miners that can be used to mine Ethereum.
Select a machine and tap Calculate Profitability button against a machine of choice and it will show how much Bitcoin you can mine per specified time and value.
Features:
- Shows hourly, daily, weekly, monthly, and annual revenue and profitability estimates in ETH and dollars.
- Requires manual entry for pool or pool maintenance fees depending on the pool to which you have connected the miner.
- Other values included in the calculation include hardware costs and electricity costs of 0.10 $kWh.
Pros:
- Calculator platform supports over 100 coins.
- Easy and quick to use.
- Provides detailed hourly, daily, weekly, monthly, and yearly profits and rewards in ETH.
- No need to do searches on which hardware to use to manage what hashrates. It also supports information on prices, which mining pools to hook the devices to, and operating systems that the devices work on.
Cons:
- No comparison as per miners to use in mining or by cryptos to mine.
Verdict: CoinWarz is powerful for predicting how long it will take to generate 1 Ethereum for the selected Ethereum or other mining hardware. It is excellent for predicting incomes from mining because you do not have to do manual entries except for power consumption and electricity costs.
Price: Free
Website: CoinWarz
#5) NiceHash
NiceHash profitability mining calculator helps to project daily, weekly, and monthly mining income, costs, and profitability per mining device supported or listed on the platform. You can calculate these projections per machine or compare two or more devices side by side. It supports GPUs, CPUs, and ASICs.
How to use NiceHash Ethereum mining calculator:
Step #1: Visit the web home page. Choose Mining then Profitability Calculator options from the main menu. You might need to be aware of devices you can employ to mine Ethereum before using this calculator effectively.
Step #2: Choose mining hardware. It should detect yours automatically if it is connected. Otherwise, click Enter hardware manually. Click/tap Calculator to estimate profitability for a single device, otherwise, click/tap Comparison to compare.
Click/tap on Device entry. Choose the hardware based on the name from the drop-down menu. Choose the base currency and electricity cost from the drop-down menus on the respective entries, and click/tap Calculate. You can also tap/click + to add a device when comparing more than one device head-to-head.
The website will show profitability estimates in USD per day for the chosen device(s). It will also show the past daily, weekly, and monthly earnings, cost, and profitability based on your setup for each device.
Features:
- Past profitability chart by device name or model (daily, weekly, and monthly).
- Shows mining hashrates and power usage for each algorithm supported on each of the devices chosen.
- Support for different types of mining device models – Nvidia, AMD, etc. The devices are lab-tested.
- Manually calculate profitability if a device is not listed.
Pros:
- No need for other searches on which hardware model or algorithm to use.
- Side-to-side comparison is a plus for those choosing which mining devices to use for Ethereum mining.
- Past earning charts based on your devices and setups provide better evidence for those looking for more information to enhance decision-making on which mining hardware to buy.
- Provides additional details or explanations on how values are calculated.
Cons:
- No long-term projections for costs, incomes, and profitability for the supported devices.
- May require past knowledge of which device can be used to mine Ethereum to use this crypto-mining calculator.
- May need to do an additional search on which OS and software a device model utilizes in mining, as well as which pool to connect the hardware.
Verdict: This is one of the most useful cryptocurrency mining calculators that can compare projected mining incomes across different devices side-by-side and it will provide expected daily, weekly, and monthly costs, revenues, and profitability.
Price: Free
Website: NiceHash
#6) My Crypto Buddy
My Crypto Buddy helps estimate hourly, daily, weekly, and monthly profitability and costs for a particular custom hashrate inputted by the user. The user needs to input just the ETH mining hashrate and the calculator will include other things like current ETH network difficulty, block rewards, and price in the calculation.
The user may need to input additional data like machine power consumption, electricity costs, and mining pool fees percentage to do the calculation.
This calculator allows you to calculate long-term profits and costs for break-even analysis (up to 10 years). This is inclusive of recurring costs like rent, Internet, and labor. Users can visualize long-term mining estimates on a chart, including ETH coins generated, profits, and costs.
How to use My Crypto Buddy Ethereum mining calculator:
Step #1: Visit the website and input hashrate, and it will show hourly, daily, weekly, and monthly costs and profitability.
Step #2: To calculate long-term profitability and generate charts, do the following:
Enter hardware costs, recurring costs (fixed costs like the Internet), price change % (e.g. based on future ETH price based on prediction), selling profile (e.g. sell all coins monthly, sell enough to cover expenses, sell a percentage portion monthly, or never sell), and % diff change (rate of the monthly change in mining difficulty).
Features:
- Long-term costs and profitability projections, up to 10 years for each cryptos supported, including Ethereum.
- Enter custom or use live stats (hashrate, difficulty, block reward, and price).
- Include or exclude the rate of the monthly change in difficulty when determining long-term profitability and costs.
Pros:
- Supports mining calculation for 8 other cryptos – Bitcoin, Bitcoin Cash, Dash, Ethereum Classic, Litecoin, Monero, Siacoin, Zcash.
- Long-term projections up to 10 years. This includes hourly, daily, weekly, and monthly profit and cost projections.
- You can project revenues, costs, and profits on CPU hashrates.
Cons:
- No possibility to tabulate comparisons for two or more mining machines or custom mining hashrates.
- No insight was provided on which mining hardware model, OS, mining software, mining pool, and algorithms to utilize for specified hashrates. You must do these searches separately.
Verdict: This Ethereum crypto mining calculator is helpful for those who want to estimate the future long-term mining costs and profitability on a machine of specified hashrates.
Price: Free
Website: My Crypto Buddy
#7) CryptoCompare
CryptoCompare can be utilized for projecting daily, weekly, monthly, and yearly profits for entered hashrates (H/s to TH/s) and at specified power consumption, electricity cost, and pool fees as a percentage. It will utilize the current price, network hashrate, difficulty, block rewards, and average block time.
How to use the CryptoCompare mining calculator:
Step #1: Visit the CryptoCompare homepage. Select Mining Calc from the menu. Choose Ethereum. Enter hashrates, power consumption, electricity cost, and pool fees. It will show daily, weekly, monthly, and yearly expected profits.
Features:
- CryptoCompare calculator allows you to estimate mining earnings for 7 cryptocurrencies – BTC, ETH, Etc, XMR, Zec, Dash, and Ltc.
- Shows total earnings in Bitcoins mined per day, week, month, or year.
Pros:
- Daily, weekly, monthly, and yearly profits.
- .Easy and simple to use and you do not need to understand mining in-depth to use it.
Cons:
- No revenue or cost projections showed.
- Other factors like hardware cost are not included.
- No long-term mining profitability projections.
- No insights on which device model, algorithm, or software to use. You must do these searches separately.
Verdict: CryptoCompare is a simple mining calculator used for estimating how much profits a mining hashrate can generate per day, week, month, or year but requires you to solve other issues such as knowing which mining device model, algorithm, software, and operating system that can manage the said hashrates.
Price: Free.
Website: CryptoCompare
#8) 99Bitcoins
Ethereum hashrate calculator provided by 99Bitoins is simply integration but allows you to calculate daily, weekly, monthly, half-year, and yearly profit estimates in USD currency for any hashrates. The user can enter any hashrate value, for instance, afforded by a machine they are willing to buy and it will out the values.
The calculator is manual and though it auto-fills entries for current network difficulty, block reward, and exchange rate, the user must enter other compulsory details, like the power cost and machine wattage.
However, it also includes entries for pool fees in case you do not intend to mine in solo mode, hardware costs, and Ethereum exchange rate or price in case you have a different value.
How to use 99Bitcoins mining calculator:
Step #1: Open or browse the website link below or choose Ethereum from the homepage menu. You will land at the calculator.
Step #2: Enter the desired inputs per your device, power costs, and other things. It will show the expected profits.
Features:
- Additional guide and information on Ethereum, how it works, and how to mine it.
- Supports mining calculators for other cryptocurrencies and coins.
Pros:
- Does include other factors like hardware costs when calculating projected profit from mining with a specified hashrate.
- Daily, weekly, monthly, half-year, and yearly profit estimates.
Cons:
- Does not provide side-to-side comparisons.
- No hourly profitability prospects.
- No indication of the source of the Ethereum price/exchange rate used.
Verdict: This way too simplistic Ethereum profit calculator can be a handful beginner research tools for a person who wants to know how much to expect from mining hardware they wish to buy or one that they are already running.
Price: Free.
Website: 99Bitcoins
Conclusion
This tutorial on Ethereum Mining Calculators discussed Ethereum mining and the different mining hardware you can use to generate passive income from mining cryptocurrency. We detailed the steps on how to use Ethereum mining calculators in each of the cases.
We found that the most effective ETH mining calculator is WhatToMine as far as features are concerned. It provides hourly, daily, weekly, and monthly profitability, cost, and revenue projections across almost every mining device available except for CPUs.
With WhatToMine Ethereum Mining Calculators, users do not even need to do extra research on devices to use to mine Ethereum or other cryptos except for the OS and software they are to utilize, the machine’s power consumption, and the area’s electricity costs. Mining calculators can also help to devise a mining rig from scratch.
Research process:
- Total Ethereum Mining Calculators Initially Reviewed: 28
- Total Ethereum Mining Calculators Shortlisted: 8
- Time Taken to Research and Write this Tutorial: 22 hours